Risk management is constantly evolving. Newer technology may have the ability to eliminate some risks, but they present us with new ones. Essentially, we will never be able to fully rid ourselves of risk on any given project. There will always be a risk of spending too much, poor decision making or poor outcomes. Every project carries its own set of risk – sometimes to the tune of millions of dollars. The Importance of a Risk Breakdown Structure The entire point of risk management is to mitigate risks. Since we…read more

A risk register is a project management tool that allows companies to assess, plan for and mitigate risks. As part of a larger contingency plan, a project risk register is a reference document that allows stakeholders, project managers and team members to be aware of potential risks involved in any given project. Communication is a core project management aspect. In fact, that’s one of the reasons why product managers manage projects – they are good communicators. As a whole, every aspect of a project must be communicated effectively to stakeholders,…read more